Construction employment increased by 42,000 jobs in February following an increase of 44,000 jobs in January, according to www.agc.org.
The construction unemployment rate was 5.5% in February. The national unemployment rate for all industries decreased slightly to 3.5%.
The construction sector added 223,000 net new jobs during the past 12 months—a 3% increase. Average hourly earnings in construction increased 3% during the past year to $31.35, which is 9.9% higher than the private-sector average of $28.52.
“Contractors are off to a fast start in 2020, adding 91,000 jobs in the first two months—the most in nearly two years,” says Ken Simonson, chief economist for the Associated General Contractors of America. “Although some of the gains probably reflect unusually mild winter weather in much of the nation, there is no question that contractors have been upbeat about the volume of work available.”
